Connect with us

OTT

Budget Session: PM likely to reply on Motion of Thanks in Rajya Sabha today

Published

on

Budget Session: PM likely to reply on Motion of Thanks in Rajya Sabha today

Prime Minister Narendra Modi is likely to respond to the President’s motion of thanks in the Rajya Sabha on Tuesday during the ongoing parliamentary budget session.

The debate on the motion to thank the president for his speech in the Rajya Sabha ended on Monday.

40 members, including 3 female members, participated in the debate, which lasted 11 hours and 25 minutes.

According to Prime Minister Narendra Modi’s reply today, the total time for the debate will exceed the 12 hours allotted by the Business Advisory Committee (BAC).

Advertisement

Following the Prime Minister’s reply, the debate on the 2022-23 union budget will begin, with 11 hours allotted.

Earlier on Monday, the Prime Minister responded to the debate on the Presidential Appreciation Motion in the House of Commons.

Prime Minister Narendra Modi claimed that Congress relied on his “divide and rule” policy and had become the leader of the “tukde tukde gang”.

Citing the achievements of his government, the prime minister said that India is poised to have 100 unicorns, some of which have the potential to become multinational corporations. The Prime Minister said the government’s policies had led to the growth of unicorns.

Advertisement

Meanwhile, the House of Lords was at 100 per cent last week, making the most of the time available for the ongoing budget meeting without any recess.

Parliament’s 2022 budget session begins on January 31 with a speech by President Ram Nath Kovind. The first part of the budget meeting will be held from January 31 to February 11, and the second part will be held from March 14 to April 8.

On January 31, President Ram Nath Kovind addressed a joint session of parliament and informed that investment inflows of US$48 billion in the first seven months of the current fiscal were a testament to the global investor community’s confidence in India’s growth . story.

Regarding the country’s growing exports, the President said: “Today, India’s foreign exchange reserves exceed $630 billion. Our exports have also grown rapidly, breaking several historical records. From April 2021 to December 2021, our cargo Exports reached USD 300 billion. Or more than Rs 220 crore, which is one and a half times that of the same period in 2020.

Advertisement

Complete News Source : Business Standard

Business

LIC DRHP unlikely to reveal size of IPO; Board to meet again on Sunday

Published

on

LIC DRHP unlikely to reveal size of IPO; Board to meet again on Sunday

The Indian Life Insurance Company’s board on Friday approved the insurer’s initial public offering in principle, but requested certain clarifications and minor changes to the draft IPO documents, people familiar with the matter said.

If the issues are resolved to clear the draft red herring prospectus (DRHP), the 15-member board could meet again in the evening or even Saturday morning, these people said.

The DRHP is expected to be submitted by Monday at the latest, but may also be submitted on the weekend.

“The situation is very fluid. Every comma and full stop is being checked and rechecked, which is a huge amount of work because of the size of the LIC,” said one of the people. “Board members have been told to meet at short notice, so … work is in full swing,” the person said.

Advertisement

“There’s some process to follow, which is why the filing on Friday was delayed, but we’re very close and it’s going to happen in days or even hours,” said a second person involved in the process.

Actuarial firm Milliman Advisors fixed the company’s embedded value (EV) at Rs 500 crore. EV is a financial measure of a life insurance company’s future cash flow. Insurers are valued at multiples of EV.
“Currently, it is fair to assume that LIC is valued at 3.5 times its embedded value for a total market valuation of Rs 175 crore,” said Manish Ostwal, an analyst at Nirmal Bang Securities.

Ostwal said HDFC Life, the most highly valued life insurer today, has a market valuation of Rs 1.25 crore, more than four times the EV of Rs 30,000 crore as of December.

Complete News Source : ECONOMICTIMES

Advertisement
Continue Reading
Anyskill-ads

Facebook

Trending